PENDLE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0672%/8h= +73.6% APRnext payment +$0.84 per $10,000 · paid last 24h +0.048%

Price spread now: Coinbase International against Extended−0.057%7-day average +0.152% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$740.741% of the position

Long on Extended Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

Price spread, last 4 days (all we have)+0.176%+$18 · spread now −0.057%, 7d avg +0.152%

Together, before fees+0.245%+ Points / potential airdropExtended: Active · farm board+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.209% cheaper against Extended than usual: you would sell low and buy high (spread −0.057% now, against its 7-day average of +0.152%). If the spread goes back, that is −$21 on $10k: about 25 hours of funding at the current rate (+$20 a day). At the pace of the last 7 days (+0.069% in total) that is about 21 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.069% in total (about 3.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.84 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENDLE-USD	2.4634	−0.0064	get 0.0008% / 1h	42m 11s	$159K	$570K	10x
Short	Coinbase International PENDLE-PERP-INTX	2.4620	0.0608	get 0.0076% / 1h	42m 11s	$148K	$492K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Extended. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ExtendedbpFee Coinbase InternationalbpOrdersPrice spread, now −0.057%Rate

Funding earned: $141.12
Price spread: −0.057% → +0.152%: −$20.9
Slippage, 4 orders: −$59.07
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $46.16
Costs to cover: 0.741%
Break-even: 4.7 days

Slippage from Extended: live order book, 16 min ago; Coinbase International: live order book, 16 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Extended live order book, 16 min ago	0.81 bp	15.1 bp −$15	147.8 bp −$1,478	doesn't fit	doesn't fit
Sell Coinbase International live order book, 16 min ago	8.11 bp	24.9 bp −$25	doesn't fit	doesn't fit	doesn't fit

PENDLE on 30 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective PENDLE/USDC PERP	−0.4334%	1h	2.4400	−0.950%	$2K	$54K	5.5x	as long as short
Extended PENDLE-USDlong	−0.0064%	1h	2.4634	long leg	$159K	$570K	10x
MEXC PENDLE_USDT	−0.0063%	8h	2.4657	+0.093%	$17.3M	$1.9M	125x	as long as short
Binance PENDLEUSDT	−0.0061%	8h	2.4651	+0.069%	$26.2M	$44.1M	75x	as long as short
BloFin PENDLE-USDT	−0.0057%	8h	2.4675	+0.166%	$1.2M	$627K	75x	as long as short
Aster PENDLEUSDT	−0.0038%	8h	2.4647	+0.052%	$47K	$178K	10x	as long as short
Orderly PERP_PENDLE_USDC	−0.0035%	8h	2.4647	+0.052%	$19K	$15K	10x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0034%	1h	2.4646	+0.048%	$25K	$14K	10x	as long as short
Gate PENDLE_USDT	−0.0011%	8h	2.4630	−0.017%	$715K	$1.1M	75x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.4651	+0.067%	$10K	—	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PENDLE	+0.0039%	8h	2.4660	+0.107%	$563K	$1.7M	—	as long as short
Reya PENDLERUSDPERP	+0.0063%	1h	2.4634	+0.001%	$3K	—	15x	as long as short
Aevo PENDLE-PERP	+0.0064%	1h	2.4638	+0.018%	$26K	—	3x	as long as short
GRVT PENDLE_USDT_Perp	+0.0086%	8h	2.4668	+0.139%	$408K	$1.8M	10x	as long as short
Lighter PENDLE	+0.0096%	1h	2.4653	+0.077%	$526K	$414K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.4626	−0.031%	$34K	$13K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.4660	+0.105%	$14.6M	$12.3M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.4670	+0.146%	$3.1M	$6.2M	50x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.4649	+0.061%	$867K	$583K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.4639	+0.020%	$3.7M	$2.4M	75x	as long as short
BingX PENDLE-USDT	+0.0100%	8h	2.4628	−0.025%	—	$8.6M	—	as long as short
edgeX PENDLEUSDC	+0.0100%	4h	2.4669	+0.143%	$24K	$379K	10x	as long as short
ApeX Omni PENDLEUSDT	+0.0100%	1h	2.4675	+0.166%	$75K	$235K	50x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.4657	+0.093%	$16K	$8K	5x	as long as short
SunX PENDLE-USDT	+0.0100%	8h	2.4649	+0.061%	$1K	$1.8M	20x	as long as short
GMX PENDLE/USD [PENDLE-USDC]	L +0.0196% / S −0.0222%	1h	2.4628	−0.025%	$5K	—	100x	as long as short
Hyperliquid PENDLE	+0.0417%	1h	2.4674	+0.162%	$12.7M	$6.1M	5x	as long as short
Backpack PENDLE_USDC_PERP	+0.0541%	1h	2.4732	+0.397%	$356K	$477K	15x	as long as short
Coinbase International PENDLE-PERP-INTXshort	+0.0608%	1h	2.4620	−0.057%	$148K	$492K	25x
Kraken Futures PF_PENDLEUSD	+0.1178%	1h	2.4692	+0.237%	$115K	$277K	20x	as long as short